ATLANTA — Atlanta has been named the top city for startup businesses in 2024, according to research by real estate website Home Bay. City officials announced on Tuesday that Atlanta was also recognized in Black Enterprise Magazine.
According to a release from the city, Atlanta was cited for low startup operating costs, a large talent pool and a strong community of Black entrepreneurs. This acknowledgment comes after LinkedIn ranked metro Atlanta the best place to start a business in 2023.
According to its website, Home Bay provides people with data-driven information on buying or selling houses. The study analyzed different metrics like new business applications, venture capital investment and job growth. It ranked Atlanta first overall. When the study was last done in 2022, Atlanta received a No. 5 ranking, while Las Vegas had the top spot.
The city said in its release that Home Bay cites that over the last five years, Atlanta has had the second-highest number of new business applications, with 28.5 per 1,000 residents – this is almost double the number for the average U.S. city at 14.5%.
In addition, jobs in Atlanta have grown 2.5% compared to the nationwide 1.7%. City officials said this indicates thriving business conditions and that Atlanta offers resources and opportunities for networking and support. In general, Home Bay said that the city has a track record of turning startups into stable companies.
Atlanta Mayor Andre Dickens said in the release that the city is once again being recognized for efforts to create an inclusive community that supports growing businesses and development.
"We are a city of entrepreneurs, innovators, incubators and thinkers who are helping us create a city of opportunity for all," Dickens added in the release. "Businesses are started here because they know the power of our talent pool, the strength of our economy and the possibility of growth. We continue to be leaders in making this city the best place in the country to raise a family, and now, start a business."
Although Atlanta is listed as the No. 1 city, Florida is considered the best state for startup businesses as Miami, Orlando, Tampa and Jacksonville are all ranked in the top 10.
